No Hiding Place For Nigeria Tax Dodgers — Buhari

Nigeria’s President Muhammadu Buhari has threatened compatriots who hold assets abroad to declare them or face prosecution.

As part of his fight against corruption, the president has given people 12 months to register under the Voluntary Offshore Assets Regularization Scheme.

I have signed a new Executive Order (EO 008), the Voluntary Offshore Assets Regularization Scheme (VOARS), mandating Nigerian taxpayers who hold offshore assets and incomes to, within a period of 12 months, voluntarily declare those assets and pay taxes on them.

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The president has tweeted that there will be “no hiding place” for those who try to disguise their offshore wealth.

The Office of the Attorney-General and Minister of Justice has been mandated to set up a VOARS in Switzerland for all categories of taxpayers who have defaulted in the declaration of offshore assets and payment of due taxes.